Praxis Precision Medicines (NASDAQ:PRAX) Sees Strong Trading Volume

Shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX) saw unusually-high trading volume on Thursday . Approximately 127,342 shares were traded during trading, a decline of 31% from the previous session’s volume of 183,500 shares.The stock last traded at $62.10 and had previously closed at $59.20.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Jefferies Financial Group lifted their price objective on Praxis Precision Medicines from $75.00 to $128.00 and gave the stock a “buy” rating in a research note on Tuesday. HC Wainwright reaffirmed a “buy” rating and issued a $105.00 price target on shares of Praxis Precision Medicines in a research report on Tuesday. Truist Financial reissued a “buy” rating and issued a $150.00 price objective on shares of Praxis Precision Medicines in a research report on Monday, December 4th. Finally, Wedbush upped their target price on shares of Praxis Precision Medicines from $16.00 to $29.00 and gave the company a “neutral” rating in a research note on Friday, January 12th.

Praxis Precision Medicines Trading Up 2.0 %

The company has a market cap of $799.56 million, a price-to-earnings ratio of -2.54 and a beta of 2.85. The company has a fifty day moving average price of $46.87 and a two-hundred day moving average price of $29.94.

Praxis Precision Medicines (NASDAQ:PRAX) last posted its quarterly earnings results on Tuesday, March 5th. The company reported ($2.97) earnings per share for the quarter, topping analysts’ consensus estimates of ($3.05) by $0.08. The firm had revenue of $0.52 million for the quarter, compared to the consensus estimate of $0.30 million. Praxis Precision Medicines had a negative net margin of 5,037.88% and a negative return on equity of 151.02%. Sell-side analysts anticipate that Praxis Precision Medicines, Inc. will post -8.78 EPS for the current fiscal year.

Institutional Trading of Praxis Precision Medicines

A number of large investors have recently bought and sold shares of PRAX. Barclays PLC acquired a new position in Praxis Precision Medicines in the fourth quarter valued at about $206,000. Wildcat Capital Management LLC acquired a new position in shares of Praxis Precision Medicines in the 4th quarter worth approximately $373,000. DLD Asset Management LP bought a new stake in Praxis Precision Medicines during the 4th quarter worth approximately $223,000. Victory Capital Management Inc. increased its holdings in Praxis Precision Medicines by 25.0% during the 4th quarter. Victory Capital Management Inc. now owns 15,705 shares of the company’s stock valued at $350,000 after purchasing an additional 3,137 shares in the last quarter. Finally, Simplex Trading LLC bought a new position in Praxis Precision Medicines in the 4th quarter valued at $31,000. 67.84% of the stock is currently owned by institutional investors.

Praxis Precision Medicines Company Profile

Praxis Precision Medicines, Inc, a clinical-stage biopharmaceutical company, engages in the development of therapies for central nervous system disorders characterized by neuronal excitation-inhibition imbalance. It is developing ulixacaltamide, a small molecule inhibitor of T-type calcium channels that is in Phase III clinical trial for the treatment of essential tremor; PRAX-562 for the treatment of pediatric patients with developmental and epileptic encephalopathies (DEE); and PRAX-628 to treat focal epilepsy.